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$GameStop (GME.US)$ After reviewing the earnings report, let me share some points:
1) The core business continues to shrink;
2) There was no mention of strategic business NFT revenue;
3) The only highlight was that DRS was higher than expected, but this is only theoretical. As time goes on and short positions are further covered, I don’t think it will trigger SS (it’s uncertain if DRS will even meet the threshold).
4) One year ago, ATM raised $1.7 billion, but a year later only $900 million remains. Add to that the fact that e-commerce is still in its infancy and burning cash at an accelerated rate, leading me to estimate bankruptcy within 1-2 years.
The outlook for the second half remains consistent with my previous post:
1) Using the 'positive' news of cooperation with FTX as an opportunity to pump the stock price up near $30 (with a caveat:不排除暴涨更多制造更大的杀猪盘 means we can't rule out a bigger pump creating a larger trap for investors).
2) Certain 'triggers' (such as a secondary offering, ATM, RC being investigated, or PAPA making another unwise move, etc.) could cause the rebound to end, sending the price straight to $16;
3) RC and its capital backers, having no choice, will be forced to add positions/raise prices, leading to pump and dump activity between $16-$20.
4) Outcome: [Please fellow investors speculate freely]
1) The core business continues to shrink;
2) There was no mention of strategic business NFT revenue;
3) The only highlight was that DRS was higher than expected, but this is only theoretical. As time goes on and short positions are further covered, I don’t think it will trigger SS (it’s uncertain if DRS will even meet the threshold).
4) One year ago, ATM raised $1.7 billion, but a year later only $900 million remains. Add to that the fact that e-commerce is still in its infancy and burning cash at an accelerated rate, leading me to estimate bankruptcy within 1-2 years.
The outlook for the second half remains consistent with my previous post:
1) Using the 'positive' news of cooperation with FTX as an opportunity to pump the stock price up near $30 (with a caveat:不排除暴涨更多制造更大的杀猪盘 means we can't rule out a bigger pump creating a larger trap for investors).
2) Certain 'triggers' (such as a secondary offering, ATM, RC being investigated, or PAPA making another unwise move, etc.) could cause the rebound to end, sending the price straight to $16;
3) RC and its capital backers, having no choice, will be forced to add positions/raise prices, leading to pump and dump activity between $16-$20.
4) Outcome: [Please fellow investors speculate freely]
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